China lowers yuan midpoint for 4th straight day to weakest in 1-month

Published 9:27 PM ET Wed, 27 Sept 2017
Reuters

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SHANGHAI, Sept 28 (Reuters) - China's central bank on Thursday lowered its official yuan midpoint for the fourth day in a row to 6.6285 per dollar, the weakest level since Aug.29, reflecting broad dollar strength.

The official guidance was 93 pips or 0.14 percent weaker than the previous fix of 6.6192 on Wednesday.

Market participants said the official USD/CNY fix came in below their forecasts, which was also the came in the past two trading days.

The dollar rose to a more than one-month high against a basket of currencies on Wednesday, as optimism about U.S. fiscal reforms boosted sentiment in favor of the greenback. (Reporting by Winni Zhou and John Ruwitch; Editing by Shri Navaratnam)